Skybridge Capital Ii adds Best Buy Co Inc (BBY) to its portfolio

Best Buy Co Inc (BBY) : Skybridge Capital Ii added new position in Best Buy Co Inc during the most recent quarter end. The investment management firm now holds 419,146 shares of Best Buy Co Inc which is valued at $14,309,644 , the company said in a statement filed on Aug 9, 2016 with the SEC.Best Buy Co Inc makes up approximately 3.54% of Skybridge Capital Ii’s portfolio.

Other Hedge Funds, Including , Teacher Retirement System Of Texas boosted its stake in BBY in the latest quarter, The investment management firm added 16,764 additional shares and now holds a total of 1,256,177 shares of Best Buy Co Inc which is valued at $42,885,883. Best Buy Co Inc makes up approx 0.28% of Teacher Retirement System Of Texas’s portfolio.Nbt Bank N A Ny boosted its stake in BBY in the latest quarter, The investment management firm added 1,488 additional shares and now holds a total of 19,395 shares of Best Buy Co Inc which is valued at $664,279. Best Buy Co Inc makes up approx 0.11% of Nbt Bank N A Ny’s portfolio.State Of New Jersey Common Pension Fund D reduced its stake in BBY by selling 20,000 shares or 22.81% in the most recent quarter. The Hedge Fund company now holds 67,700 shares of BBY which is valued at $2,261,857. Best Buy Co Inc makes up approx 0.01% of State Of New Jersey Common Pension Fund D’s portfolio.Ftb Advisors boosted its stake in BBY in the latest quarter, The investment management firm added 2,766 additional shares and now holds a total of 125,037 shares of Best Buy Co Inc which is valued at $4,201,243. Best Buy Co Inc makes up approx 0.55% of Ftb Advisors’s portfolio.Capstone Asset Management Co reduced its stake in BBY by selling 4,007 shares or 6.87% in the most recent quarter. The Hedge Fund company now holds 54,277 shares of BBY which is valued at $1,704,298. Best Buy Co Inc makes up approx 0.05% of Capstone Asset Management Co’s portfolio.

Best Buy Co Inc closed down -1.01 points or -2.94% at $33.3 with 64,75,349 shares getting traded on Wednesday. Post opening the session at $33.47, the shares hit an intraday low of $32.8 and an intraday high of $33.68 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Best Buy Co Inc reported $0.44 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on May 24, 2016. Analyst had a consensus of $0.35. The company had revenue of $8443.00 million for the quarter, compared to analysts expectations of $8295.77 million. The company’s revenue was down -1.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.37 EPS.

Investors should note that on Jun 22, 2016, Best Buy Co Inc announced a cash dividend of $0.1250. The company’s management has announced Sep 14, 2016 as the ex-dividend date and fixed the record date on Sep 16, 2016. The payable date has been fixed on Oct 18, 2016.

Many Wall Street Analysts have commented on Best Buy Co Inc. Shares were Downgraded by Jefferies on Aug 15, 2016 to ” Hold” and Lowered the Price Target to $ 36 from a previous price target of $39 .Best Buy Co Inc was Downgraded by Credit Suisse to ” Neutral” on Jun 15, 2016. Shares were Reiterated by Telsey Advisory Group on May 25, 2016 to “Outperform” and Lowered the Price Target to $ 36 from a previous price target of $38 .

Best Buy Co. Inc. is a provider of technology products services and solutions. The Company offers service to the consumers small business owners and educators who visit its stores engage with Geek Squad agents or use its Websites or mobile applications. It has retail and online operations in the United States Canada and Mexico. It operates through two segments: Domestic and International. The Domestic segment consists of all operations within the United States and its territories operating e-commerce retail store and call center operations under a range of brand names including Best Buy (bestbuy.com) Best Buy Mobile Geek Squad Magnolia Audio Video and Pacific Sales. The International segment consists of all operations outside the United States and its territories. In addition the Company operates Magnolia Home Theater Magnolia Design Center and Pacific Kitchen and Home store-within-a-store experiences in the United States Best Buy stores.

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